National Extravagance

The following article is travelling the rouïids of the papers. When we first read it, we concluded it was a hoax, invented by some Scheming genius to test the gullibility of the public. We could not believe that the Government would be silly enough to waste three quarters of a million of dollars on such an experiment, in a time of profound peace, when the national revenue falls short of the public expenditures several millions of dollars. But as we have a great number of naval officers living in idleness, and well paid, it is natural they should "search out many inventions." Read thedescription of this fearful monster, and then remember that it is proposed to raise the funds to pay the expense of it by a tax on Tea and Coffee! Magmficknt UflpERTAKiríG- Government ulive at last. - For some monlhs past, many inquirios liave been made, and without success, to ascertain the object of the movements toward improvemeot now going on at Hoboken, a short dista nee above the ferry landing. Although the in'ention has been to keep the whole affair enrirely concealed, we are gratified at receiving permiseion to make it known, in general terms, to our readers. - Government has, for once, undertaken thoronclily to test a new invention without waiting for private enterprise to reduce t to an every day affair. If nothing occurs to prevent, the cjtizens of New York will soon be presented wilh a means ofdefence for their harbor, which, being complete whhin itseif will render almost useless the present hnes of forts. One of the eteani butteries, of which we gave a description at the time of ita inveiition, is to 1)0 built; and for that purpoee, a aasin, or coffer dam, is now being constructed at Hoboken, the interior of which is to be 300 by ISO feet.In this ba.sin ia to bc built a bal] and bomb proofsteam floatlng battery, about 60 feet wide by 200 feet long1, propelled on the screw plan, and capable of being governed with all the ease of a steamboar, while its great speed will not be the lenst of its goot! quulitirs. It 's its peculiar construction, more ihan strengih of build, which will render it impervious alike tocannon ball and bomb shell; the rapidity of ts movements will enable the commande to take advantage of &ny desirable position jn act ion. The armanent will be heavy; but he light draught of water will ennble it to approach any desirabb point without difficultyordanger. When finished, the cofFer dam will be dug away, and this thing of life will move out of its doek, not showing the least meaiis whereby it moves, and wilhout a single perron being seen about it, while, in reality, a powerful steam engine is at work within, and hundreds of persons are eafely concealed there, ready to deal out death anddestruction upon an enemyalongeide, or miles off. The cost of perfecting this fearful eng in e of war will probably exceed three quarters of a million of dollars. The vvhole undertaking lias been planned by our distinguished fellow cilizen, Robert L. Stevens, under whose immcdiatc superintendence ït ia being carrfed" out. Mr. Corwin, the celebrated dodk build er, ia intrusled with the conatruction of the dams and piers. Machine shops ofbrick will be constructed alongside of the dam, where all the requisite machinery for the vesse] will be perfected, and placed on board by means of a circular railway surrounding the dam. The vessel will be completed in two or three yeais; and, in the mean time, iJ. is intended that the mode of c n3trucling this powerful engine of